Internal markets for knowledge-intensive human resources: a new frontier in personalization strategy for knowledge management

Purpose – This paper aims to develop a conceptual framework of an integrated knowledge management system, in which several knowledge management strategies are nested. Specifically, the paper focuses on possible strategies to localise and transfer different types of knowledge resources in project-based organisations, including expertise embedded in talented people, in order to pursue new emerging business opportunities and improve the whole organisation’s effectiveness. Design/methodology/approach – This paper is theoretical in nature. Drawing on the literature on the management of tacit knowledge in project-based organisations and on internal knowledge markets we introduce the conceptual framework for an internal knowledge market which may suit the context of project-based organisations. We also briefly discuss some organisational and managerial issues potentially connected to internal knowledge market development. Originality/value – The originality of the paper lies in assuming different motivational drivers, currencies and market structures for the different kinds of knowledge goods that can be exchanged in a complex organisational structure, such as a large project-based organisation. By focussing on the internal trade of knowledge-intensive human resources, i.e. a strategic knowledge good for project-based organisations, we aim to address a specific gap in the management literature. In fact, the literature, while recognising that managing knowledge-intensive resources is a critical issue in project-based organisations, largely neglects the market-based approach to deal with it. Practical implications – Although this paper is theoretical in nature, it provides some guidelines for the development of internal markets for knowledge intensive resources, defining contexts of application, roles of the different actors, working mechanisms as well as organizational and managerial tools to mitigate possible risks and enhance benefits.